Tuesday, September 14, 2010

PG&E (NYSE:PCG) Offers $50,000 to San Bruno Victims, Some Return to Homes

Homeowners who still had homes and were able to return to them, can receive up to an initial $50,000 from Pacific Gas & Electric Co. (NYSE:PCG), who owned the pipeline which exploded, killing seven people, with six still unaccounted for.

It wasn't clear whether those with demolished homes were given the same amount of money at this time.

The $50,000 comes with no strings attached, and won't have to be paid by those receiving it.

Those receiving the money are not being asked to sign off on not suing PG&E in the future either.

PG&E has also paid $3 million to the city of San Bruno to help cover the costs related to the damage from the explosion.